Special Opportunities Fund, Inc. (NYSE:SPE - Get Free Report) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 10,600 shares, an increase of 39.5% from the May 15th total of 7,600 shares. Based on an average daily trading volume, of 42,300 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the company's shares are short sold.
Special Opportunities Fund Stock Performance
Shares of NYSE:SPE traded up $0.08 during trading on Monday, reaching $15.28. The stock had a trading volume of 35,420 shares, compared to its average volume of 42,841. The business has a fifty day moving average price of $14.79 and a 200-day moving average price of $14.97. Special Opportunities Fund has a fifty-two week low of $12.72 and a fifty-two week high of $15.87.
Special Opportunities Fund Announces Dividend
The company also recently disclosed a dividend, which was paid on Friday, May 30th. Stockholders of record on Wednesday, May 21st were given a $0.1098 dividend. This represents a dividend yield of 8.65%. The ex-dividend date of this dividend was Tuesday, May 20th.
Hedge Funds Weigh In On Special Opportunities Fund
A number of institutional investors have recently modified their holdings of the company. Shaker Financial Services LLC grew its holdings in Special Opportunities Fund by 148.0% in the fourth quarter. Shaker Financial Services LLC now owns 157,812 shares of the closed-end fund's stock valued at $2,309,000 after purchasing an additional 94,176 shares during the period. Advisors Asset Management Inc. acquired a new position in Special Opportunities Fund during the first quarter worth approximately $1,681,000. Scotia Capital Inc. increased its position in Special Opportunities Fund by 10.7% during the first quarter. Scotia Capital Inc. now owns 99,215 shares of the closed-end fund's stock worth $1,490,000 after purchasing an additional 9,583 shares during the last quarter. Independent Advisor Alliance acquired a new position in Special Opportunities Fund during the fourth quarter worth approximately $1,380,000. Finally, First Manhattan CO. LLC. increased its position in Special Opportunities Fund by 3.3% during the first quarter. First Manhattan CO. LLC. now owns 31,510 shares of the closed-end fund's stock worth $473,000 after purchasing an additional 1,010 shares during the last quarter. Institutional investors and hedge funds own 35.60% of the company's stock.
About Special Opportunities Fund
(
Get Free Report)
Special Opportunities Fund, Inc is a close-ended balanced fund of funds launched and managed by Bulldog Investors, LLC. It invests in close-ended funds investing in public equity and fixed income markets. The fund employs a combination of value, opportunistic and special situations strategies to make its investments.
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